RiverNorth Opportunities Fund, Inc. Announces Change in Fiscal Year End

Rhea-AI Summary

RiverNorth Opportunities Fund (NYSE: RIV) announced that its Board of Directors approved a change in its fiscal year end. Effective May 14-15, 2024, the fiscal year end will shift from July 31 to June 30. This adjustment aims to enhance operational efficiencies and reduce costs by aligning with the fiscal year ends of other closed-end funds in the RiverNorth complex.

Positive

• The change in fiscal year end is expected to increase operational efficiencies.
• Aligning the fiscal year with other funds in the RiverNorth complex may lead to reduced operating costs.

Negative

• The change may cause temporary disruptions as the company adjusts its accounting and reporting processes.

WEST PALM BEACH, Fla.--(BUSINESS WIRE)-- RiverNorth Opportunities Fund, Inc. (NYSE: RIV) (the “Fund”) is pleased to announce that on May 14-15, 2024, the Board of Directors of the Fund (the “Board”) approved a change to the fiscal year end (“FYE”) of the Fund, as set forth in the table below.

Fund		Ticker		Current FYE		New FYE
RiverNorth Opportunities Fund, Inc.		RIV		July 31		June 30

This change was made to increase efficiencies and reduce operating costs for the Fund by bringing it into alignment with the fiscal year ends of all the closed end funds in the RiverNorth complex.

About RiverNorth

RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $5.0 billion¹ in assets under management as of April 30, 2024, RiverNorth specializes in opportunistic investment strategies in niche markets where the potential to exploit inefficiencies is greatest. RiverNorth is an institutional investment manager to registered funds, private funds, and separately managed accounts.

1. Firm AUM reflects Managed Assets which includes the effects of leverage and investments in affiliated funds.

An investment in the Fund involves risk, including loss of principal.

Investors should consider a Fund's investment objective, risks, charges, and expenses carefully before investing. The Fund’s prospectus and most recent periodic reports contain this and other important information about the Fund and may be obtained by visiting rivernorth.com/literature or by calling your financial professional or RiverNorth at 844.569.4750.

Member Firm ALPS Distributors Inc. Marketing services provided by ALPS Distributors Inc.

RiverNorth Capital Management, LLC is not affiliated with ALPS Distributors, Inc.

Not FDIC Insured | May Lose Value | No Bank Guarantee

RiverNorth® is a registered trademark of RiverNorth Capital Management, LLC.

©2000-2024 RiverNorth Capital Management, LLC. All rights reserved. RVC000397

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20240520883956/en/

RiverNorth CEF Investor Relations

800-646-0148, Option 1

CEF@rivernorth.com

Source: RiverNorth Capital Management, LLC

FAQ

What is the new fiscal year end for RiverNorth Opportunities Fund (RIV)?

The new fiscal year end for RiverNorth Opportunities Fund (RIV) is June 30.

Why did RiverNorth Opportunities Fund (RIV) change its fiscal year end?

The fiscal year end was changed to increase efficiencies and reduce operating costs by aligning with other funds in the RiverNorth complex.

When will the new fiscal year end for RiverNorth Opportunities Fund (RIV) be effective?

The new fiscal year end will be effective from May 14-15, 2024.

What was the previous fiscal year end for RiverNorth Opportunities Fund (RIV)?

The previous fiscal year end for RiverNorth Opportunities Fund (RIV) was July 31.